We are live on
!
Find out more
State of Michigan Retirement System Portfolio holdings
AUM
$22.6B
Turnover
5.03%
1-Year Est. Return
40.24%
This Fund
S&P 500
This Quarter
Est. Return
+26.19%
1 Year Est. Return
+40.24%
3 Year Est. Return
+127.54%
5 Year Est. Return
+152.65%
10 Year Est. Return
+534.6%
AUM
$22.6B
AUM Growth
+$3.66B
(+19%)
Cap. Flow
+$818M
Cap. Flow
% of AUM
3.62%
Top 10 Holdings %
Top 10 Hldgs %
30.97%
Holding
975
New
34
Increased
149
Reduced
743
Closed
15
Avg Time Held
8.8
years
Top 10 Avg Time Held
4.5
years
Top 20 Avg Time Held
4.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HubSpot
HUBS
|
+$226M |
| 2 |
Adobe
ADBE
|
+$125M |
| 3 |
Charter Communications
CHTR
|
+$107M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$98.8M |
| 5 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$98.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TransDigm Group
TDG
|
+$75.5M |
| 2 |
State Street Health Care Select Sector SPDR ETF
XLV
|
+$59.3M |
| 3 |
Meta Platforms (Facebook)
META
|
+$53.4M |
| 4 |
Cigna
CI
|
+$42M |
| 5 |
Intel
INTC
|
+$34.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 36.61% |
| 2 | Financials | 10.43% |
| 3 | Communication Services | 9.47% |
| 4 | Healthcare | 8.27% |
| 5 | Consumer Discretionary | 8.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
26
Charter Communications
CHTR
$12.6B
| $152M | 0.67% |
1,070,397
+638,815
| +148% | +$107M |
2016 Q3
39 quarters
|
|
27
ExxonMobil
XOM
$718B
| $151M | 0.67% |
1,106,818
+15,100
| +1% | +$2.26M |
2013 Q2
52 quarters
|
|
28
Duolingo
DUOL
$6.97B
| $150M | 0.67% |
1,306,107
+112,800
| +9% | +$12.3M |
2024 Q2
8 quarters
|
|
29
Vertiv
VRT
$82.7B
| $137M | 0.61% |
410,590
+14,990
| +4% | +$4.75M |
2024 Q4
6 quarters
|
|
30
Cisco
CSCO
$433B
| $136M | 0.6% |
1,154,062
-69,300
| -6% | -$7.25M |
2013 Q2
52 quarters
|
|
31
Walmart Inc
WMT
$935B
| $130M | 0.58% |
1,151,220
-20,300
| -2% | -$2.52M |
2013 Q2
52 quarters
|
|
32
Caterpillar
CAT
$338B
| $126M | 0.56% |
117,972
-11,600
| -9% | -$10.2M |
2013 Q2
52 quarters
|
|
33
Mastercard
MA
$540B
| $122M | 0.54% |
237,681
-2,000
| -0.8% | -$997K |
2013 Q2
52 quarters
|
|
34
KLA
KLAC
$228B
| $114M | 0.51% |
378,480
-9,200
| -2% | -$1.83M |
2013 Q2
52 quarters
|
|
35
AbbVie
ABBV
$501B
| $114M | 0.5% |
452,408
-9,300
| -2% | -$2M |
2013 Q2
52 quarters
|
|
36
Palantir
PLTR
$482B
| $111M | 0.49% |
948,281
+71,581
| +8% | +$9.76M |
2021 Q1
21 quarters
|
|
37
Costco
COST
$433B
| $110M | 0.49% |
117,369
-2,300
| -2% | -$2.29M |
2013 Q2
52 quarters
|
|
38
Bank of America
BAC
$362B
| $102M | 0.45% |
1,798,812
-49,200
| -3% | -$2.62M |
2013 Q2
52 quarters
|
|
39
GE Aerospace
GE
$324B
| $99.8M | 0.44% |
267,161
-6,800
| -2% | -$2.13M |
2022 Q2
16 quarters
|
|
40
UnitedHealth
UNH
$365B
| $96.6M | 0.43% |
232,519
-48,900
| -17% | -$18.1M |
2013 Q2
52 quarters
|
|
41
Arista Networks
ANET
$234B
| $96.3M | 0.43% |
566,692
+30,736
| +6% | +$4.83M |
2018 Q3
31 quarters
|
|
42
iShares Securitized Income Active ETF
SECU
$895M
| $94.7M | 0.42% |
+1,900,000
| New | +$94.5M |
2026 Q2
0 quarters
|
|
43
iShares Core S&P Mid-Cap ETF
IJH
$123B
| $92.1M | 0.41% |
1,194,710
+63,000
| +6% | +$4.62M |
2013 Q2
52 quarters
|
|
44
iShares MSCI USA Quality Factor ETF
QUAL
$48.9B
| $92.1M | 0.41% |
419,649
+95,100
| +29% | +$19.9M |
2020 Q3
23 quarters
|
|
45
Procter & Gamble
PG
$365B
| $90.1M | 0.4% |
614,537
-10,500
| -2% | -$1.53M |
2013 Q2
52 quarters
|
|
46
Home Depot
HD
$308B
| $89.9M | 0.4% |
254,984
-5,100
| -2% | -$1.66M |
2013 Q2
52 quarters
|
|
47
iShares Core US Aggregate Bond ETF
AGG
$138B
| $89.1M | 0.39% |
+900,000
| New | +$89M |
2026 Q2
0 quarters
|
|
48
Kayne Anderson BDC
KBDC
$834M
| $88.8M | 0.39% |
6,566,762
| – | – |
2025 Q4
2 quarters
|
|
49
Berkshire Hathaway Class A
BRK.A
$1.13T
| $86.9M | 0.38% |
116
| – | – |
2013 Q2
52 quarters
|
|
50
Sandisk
SNDK
$202B
| $86.2M | 0.38% |
37,901
-700
| -2% | -$999K |
2025 Q4
2 quarters
|
|
Similar funds
State of Michigan Retirement System's Q2 2026 Portfolio in Review
As of Q2 2026, State of Michigan Retirement System held 975 positions worth $22.6B, up 19% from $18.9B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
State of Michigan Retirement System deployed $818M of net new capital in Q2 2026, opening 34 new positions and adding to 149 existing holdings. Its largest new stake was iShares Securitized Income Active ETF: 1,900,000 shares worth $94.7M.
By sector, the portfolio is most concentrated in Technology at 37% of assets, up from 32% a quarter earlier, followed by Financials and Communication Services.
On the sell side, the largest reduction was TransDigm Group, an estimated $75.5M trimmed.
- State of Michigan Retirement System's largest Q2 2026 buy was iShares Securitized Income Active ETF: 1,900,000 shares worth $94.7M.
- State of Michigan Retirement System added most to HubSpot in Q2 2026, an estimated $226M increase.
- State of Michigan Retirement System's biggest Q2 2026 reduction was TransDigm Group, cutting an estimated $75.5M.
- State of Michigan Retirement System fully exited State Street Health Care Select Sector SPDR ETF in Q2 2026, selling an estimated $59.3M.
- State of Michigan Retirement System's ten largest holdings make up 31% of its $22.6B portfolio in Q2 2026.
- State of Michigan Retirement System opened 34 new positions and closed 15 in Q2 2026.
- State of Michigan Retirement System's portfolio value rose 19% quarter-over-quarter to $22.6B.
Based on State of Michigan Retirement System's 13F filing for Q2 2026, filed 30 Jul 2026.